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New Housing Data Shows Home Sales Plunge 21 Percent in Last Year

Meanwhile, median home prices rose almost 4 percent annually

The number of previously occupied homes sold in the United States dropped by 21 percent over the past year, according to new data from the National Association of Realtors (NAR) released Thursday.

That’s on top of an 18 percent annual decline the year before, indicating the housing market has continued to slow down amid rising interest rates. Meanwhile, prices continued to rise, with the median sales price climbing 3.9 percent from a year ago to reach $407,100.

"Perhaps, there could be some recovery taking place, but the last couple of data releases are implying no," said Lawrence Yun, the NAR’s chief economist. "Things are slumping down again."

Please select this link to read the complete article from The Washington Post.

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